Contango Oil & Gas (NYSEAMERICAN:MCF) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 273,298 shares, an increase of 58.9% from the November 30th total of 172,045 shares. Based on an average daily trading volume, of 1,279,212 shares, the short-interest ratio is currently 0.2 days. Currently, 1.1% of the shares of the stock are sold short.

Shares of Contango Oil & Gas (NYSEAMERICAN MCF) traded down $0.58 during midday trading on Wednesday, hitting $4.64. 1,041,728 shares of the company’s stock traded hands, compared to its average volume of 217,218. Contango Oil & Gas has a 12 month low of $2.22 and a 12 month high of $10.15. The stock has a market capitalization of $122.80, a P/E ratio of -3.97 and a beta of 1.85.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%. The business had revenue of $18.80 million during the quarter, compared to analysts’ expectations of $20.33 million. During the same period last year, the company earned ($0.55) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund lifted its stake in shares of Contango Oil & Gas by 2.1% during the second quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock valued at $112,000 after buying an additional 341 shares during the period. Rhumbline Advisers lifted its stake in shares of Contango Oil & Gas by 3.6% during the second quarter. Rhumbline Advisers now owns 45,558 shares of the oil and natural gas company’s stock valued at $303,000 after buying an additional 1,600 shares during the period. GRT Capital Partners L.L.C. lifted its stake in shares of Contango Oil & Gas by 4.4% during the second quarter. GRT Capital Partners L.L.C. now owns 47,743 shares of the oil and natural gas company’s stock valued at $317,000 after buying an additional 1,992 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Contango Oil & Gas by 1.3% during the second quarter. Principal Financial Group Inc. now owns 175,053 shares of the oil and natural gas company’s stock valued at $1,162,000 after buying an additional 2,244 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Contango Oil & Gas by 11.0% during the second quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after buying an additional 2,400 shares during the period.

A number of analysts recently commented on the stock. Roth Capital reissued a “buy” rating and set a $10.00 price objective on shares of Contango Oil & Gas in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. ValuEngine downgraded shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Seaport Global Securities raised shares of Contango Oil & Gas from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $6.00 price target on shares of Contango Oil & Gas in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.00.

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Contango Oil & Gas Company Profile

Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States.

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